Wall Street opens lower after AI rout; SpaceX fears hit telecoms
Wall Street opened lower on Friday after a sharp selloff in AI-linked stocks, while telecom shares tumbled on fears that SpaceX could intensify competition. The Dow fell 0.32%, the S&P 500 fell 0.34%, and the Nasdaq fell 0.44% at the open.
By Adam,
Editor in Chief
23 Oct 2026 at 21:41 HKT
· 1 min read
Wall Street's main indexes opened lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share.
The Dow Jones Industrial Average fell 171.3 points, or 0.32 per cent, at the open to 52,696.7. The S&P 500 fell 26.2 points, or 0.34 per cent, at the open to 7,637.18, while the Nasdaq Composite dropped 114.9 points, or 0.44 per cent, to 25,893.953 at the opening bell.